Do you know that Jeff Bezos makes approximately $2,489 every second? That is #964,000 if converted to Naira. It will take an average Nigerian two years to make such a figure. You know the intriguing aspect? This richest man in the world makes money while he snores at night. Since you opened this page, he has made over $10,000. By the time you are through with this article, he would have been $1 million richer.
Sounds too good, right? That is what happens when you discover a way to earn passive income and make money while you sleep. Many Nigerians believe that such thinking is born out of a lazy mind. To others, it is a fairytale that can’t happen. But is it possible? Can you make money while you sleep?
In this article, you’re going to learn about ten ways to make money while you sleep. But before you begin, I want to assure you that these ideas aren’t a get rich quick scheme. At first, you won’t be sleeping. The fact is, you will be awake when others snore in their cozy bed at night. However, that is the price you have to pay to establish a passive source of income.
Without further ado, let’s begin!
1. Build An App
Chances are, you’re reading this article through an app. It could be Chrome, Firefox, Opera-Mini, etc. Mobile apps have become an intrinsic part of our lives, and our phones will be useless without them. Today, many games have broken the record and earn over $3 million daily revenue. You might be asking, how can one make money through an app?
Most often, it is through in-app purchases and ads. The first step will be building an app. If you’re not an app developer, it can be somewhat technical and expensive.
But if you have the finance, you can always think of a unique idea and have an app developer translate it to reality. Some apps that have made it huge include PUBG, Clash of Clans, Free Fire, Angry Birds, Pokemon Go, etc.
If you can successfully create an app, you will be making money round the clock, most notably when you sleep.
2. Invest In The Stock Market
The stock market is a lucrative goldmine, and you will be able to make money while you sleep. Almost every wealthy person you know today has invested in stock. All you have to do is follow the stock news, study the trends, get a broker, and make calculated investments.
If the company you invested in grows, your investment grows as well. But before investing, make sure the company has excellent leadership and track record. A company with a high potential for growth is the ideal place to invest.
Once you’ve invested, sit back, and focus on other activities. Your stock will grow even while you sleep. Investing in the stock market is a great way to make passive income.
3. Sell Information Products
Another medium through which you can make passive income is by selling digital products online. I wrote an eBook two years ago in one of my niche blogs. Guess what? That eBook is still fetching me money till today.
The key is to discover something that people want and then create it. The internet has made it possible to find virtually any information. In that case, you need to ensure that your information product is something that one cannot find on the internet.
If people must pay money to order your product, it must at least offer value. Go the extra mile to write on any subject that is in hot demand. A stunning product will lead to more customers, while trash will only get you a bad name.
When looking for what kind of information to sell, conduct a survey, and determine your target market wants.
4. Affiliate Marketing
Affiliate marketing remains one of the numerous ways you can make money online. But it is not an easy path, as you will need to build an audience first. You can start by starting a blog or a YouTube channel.
That way, you can market your affiliate links through articles or video content. Making money while you sleep doesn’t mean it is easy. At first, you will need to sacrifice weeks of sleep just to build a solid foundation. With time, you will start seeing results.
With consistency, you discover that your source keeps spilling in money even when you’re sleeping. There are lots of products you can promote and earn a commission. You must be able to offer value, which will compel them to buy products or services using your link. But when you’re after shoving your products down their throats, getting orders becomes very hard.
I wrote a comprehensive article on how to start affiliate marketing. It would guide you, in case you want to earn passive income through this means.
5. Real Estate
If you’re not a fan of making money online, then this will appeal to you. You can make money while you sleep by renting out your properties. That way, you earn passive income through rent. However, the capital required for this endeavor is massive. You will need millions of Naira to build a house for rent. Aside from that, it is one of the best routes to passive income.
There are lots of landlords today who don’t have any sort of job. But they make millions of Naira every six or twelve months from rent. If you don’t want to involve yourself with your real estate property management, you can get a real estate broker that handles every transaction on your behalf.
6. Start A Youtube Channel
I have come across many YouTube channels that haven’t posted any new content for two years, yet they keep making money. How is that even possible? They were able to create incredible videos that keep attracting millions of views. Being a YouTuber is a great way to make money, even more money, if you’re consistent.
Before you delve into YouTube, it is essential to note that it is not easy. You will need dedication, creativity, and passion for video creation. If you don’t have that passion, please don’t bother! To know more about YouTube, do visit the YouTube category.
7. Sell Stock Materials
If you’re talented in photography or perhaps film making, you can make money when you sell your contents on stock websites. You can sell your photos, music, video footage, etc. Some of the famous sites where you can sell all these are Shutterstock, Gettyimages, and numerous others. When you enlist your content on these platforms, you get paid whenever someone purchases them. Selling your stock contents is an incredible way to make money while you sleep.
8. Start A Dropshipping Business
If you’re always fascinated by eCommerce, perhaps starting one might be the path for you. Like I keep saying, the starting is not easy. Whichever one you decide to pursue will require dedication and consistency. Dropshipping business is an easy business model, but you will need some funds to start a website.
All you need is to get a domain name, a hosting plan, and a supplier. When it comes to domain name and hosting, I always recommend Namecheap.
When a potential customer makes an order through your store, you process them through the supplier. You don’t need to worry about inventory or delivery, as your supplier will handle all these without hassles. It is a great way to make money while you sleep.
Blogging is a great way to make money while you sleep. I am a living witness! But on the other hand, it is not an easy path. You will need to struggle for months or even a year before you can start earning something substantial.
I have written a lot of helpful articles on blogging, and you will undoubtedly find them useful. Through blogging, I have been able to make money while I sleep. Why I love blogging is because it offers you numerous ways to create a passive source of income. You can sell digital products, make money through ads or affiliate marketing.
But the sacrifice required to build a successful blog isn’t something everyone can pay. Building a successful blog requires hard work, especially when it comes to creating content and promotion.
Another excellent way to make money while sleeping is through webinars. Not the live ones as you will need to be awake. Automated webinars can be the key to wealth, as they can run in day and night without issues. If you already have an audience that is ready to devour your offer, you will find yourself making thousands of dollars when launched. Through webinars, you can also earn more through digital products and consultancy. The list is endless!
Making passive income is something that many are yet to grasp. Many believe that you can only earn as much as you work. In this technological world, that is far from the truth. Not only can you earn while you sleep, but you can also become a millionaire when you’re consistent. Which of the passive income sources do you think will work for you? Do you have further questions? Use the comment box, and I will respond immediately.